ENERGY MINERALS

Terrafame gives battery metals plant green light

Finnish base metal miner Terrafame will build a €240 million (US$273 million) nickel and cobalt sulphate plant.

Staff reporter
Terrafame CEO Joni Lukkaroinen shows off his mine to a visiting group in August

Terrafame CEO Joni Lukkaroinen shows off his mine to a visiting group in August

The plant, expected to come online in 2021, will add to current nickel, cobalt sulphide and copper production at the bioheap leaching operation. 

Terrafame has already done ground preparation work and construction will begin soon. 

Financing has already been arranged, with Terrafame minority shareholder Trafigura putting in €42 million and the Galena Fund and 77%-owner Finnish Minerals Group contributing €30 million each. 

Finnish Minerals Group CEO Matti Hietanen said it would be a big step for Finland's hopes for a battery minerals cluster, as detailed in Mining Journal's most recent cover story

"This is a very important investment for Terrafame and its owners as well as the whole Finnish and European electric vehicle battery manufacturing value chain," he said. 

"Terrafame's investment also improves the conditions for attracting more operators in the battery manufacturing value chain to Finland." 

The plant does not yet have environmental approval from the Finnish government. 

It will produce an estimated 170,000 tonnes of nickel sulphate and 7,400t cobalt sulphate per annum, as well as 115,000tpa ammonium sulphate as a byproduct. 

 

A growing series of reports, each focused on a key discussion point for the farming sector, brought to you by the Kondinin team.

A growing series of reports, each focused on a key discussion point for the farming sector, brought to you by the Kondinin team.

editions

Mining Journal Intelligence Investor Sentiment Report 2024

Survey revealing the plans, priorities, and preferences of 120+ mining investors and their expectations for the sector in 2024.

editions

Mining Journal Intelligence Mining Equities Report 2023

Access an exclusive, inside look on the quarterly mining IPOs and secondary raisings data and mining equities performance tables with an annual Stock Exchange Comparisons supplement.

editions

Mining Journal Intelligence World Risk Report 2023 (feat. MineHutte ratings)

A detailed analysis of mining investment risks across 121 jurisdictions globally, built on 11 ‘hard risk’ metrics and an industrywide survey.

editions

Mining Journal Intelligence Global Leadership Report 2023: Social licence

Gain insights into social licence trends and best practices from interviews with 20+ top mining company executives and an industrywide survey.